VMPlayer 4.0.3 Ubuntu 12.01 i3 Intel Graphics 3D Acceleration Issue

I've been having an odd issue with 3D acceleration in my vmware guests. I'm running ubuntu in my host and I have installed the intel driver for the integrated graphics in my i3 chip.

glxinfo | grep direct returns "direct rendering: Yes"

glxgears returns an fps in sync with my monitor's refresh rate when synced to the refresh rate, and about 6,000 fps when unsynced. I've ran tremulous in my linux host and confirmed that 3d accel was working fine there as well.